When Tiger’s March-year financial statements were belatedly filed earlier this month they disclosed that the group had lost more than $S50 million ($A41 million), had negative equity to the tune of $S110 million ($A89 million) and had run down its cash balances from $S33.4 million ($A27 million) to $S13.2 million ($A10.7 million).It was effectively funding its operations from its forward sales but not growing those forward bookings fast enough to avoid running down its cash reserves.
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